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Tech Stocks Fuel
Rise in Nasdaq,
But Bonds Decline

By

Greg Ip Staff Reporter of The Wall Street Journal

Updated March 27, 1997 12:01 a.m. ET

Technology stocks roared higher Wednesday, fueling the Nasdaq Stock Market to its best one-day gain since Feb. 12 and helping the Dow Jones Industrial Average eke out a small gain. Bonds fell, dragging bank stocks with them, and the dollar was mixed.

A combination of positive analysts' comments, a big contract for industry bellwether Motorola and apparent short-covering drove the tech-heavy Nasdaq Composite Index to close at 1269.08, a gain of 21.02 points, or 1.68%. The index had lost 9% in the preceding six weeks. The index...